4 Answers

askguru expert
Joshua Koh

If you have a exercise OTP for your current HDB before you exercise the option for your new pte apartment, then you dont need to pay ABSD.

Feel free to contact me if you require my assistance.

Best Regards,
Joshua Koh
ERA Realty Network PTE LTD
CEA Reg No: R044856J
HP: 91827557
EMail: joshuakohyk@gmail.com Read More


Aaron Chong

If you intend to sell your HDB first, then buy a private property, then you do not have to pay ABSD.

9730 8455
aaronchong2774@yahoo.com.sg Read More


Mike Tay

For Singapore Citizen, the current ABSD of 7% is payable for the 2nd property.

There are 2 methods to manage the ABSD.

The 1st one is a safer method, it would require you to pay ABSD in advance and then claim from IRAS later. This method is suitable if you do not have an existing mortgage loan. You can also stay in your current HDB until you have found your ideal private property.

For married couples, you can buy your 2nd property, pay the ABSD of 7% and can claim refund for 7% ABSD if:

1. You have paid ABSD for the 2nd residential property.
2. The 1st property is sold within 6 months from the date of purchase of the 2nd property (if it is a completed property) or TOP/CSC (whichever is earlier) of the second property (if it is an uncompleted property).
3. The married couple must not purchase a 3rd or subsequent property from the date of purchase of 2nd property to the date of sale of 1st property

Please note that ABSD of 7% claimable is only valid for married couples. Singles are not eligible for refund of ABSD.

Pros: Can take a longer time to buy and then sell, subject to IRAS ABSD condition

Cons: ABSD payable upfront and claim from IRAS later.

Suits: Those without existing mortgage and do not mind to pay ABSD upfront and claim from IRAS later. Only valid for married couple.

There is another method that suitable for those with an existing mortgage and do not want to pay ABSD upfront.

Please call me at 9745-5178 for a chat.

Thks & regards,

Mike Tay (郑树荣)

CEA Reg:R042367C

M: +65 97455178
E: miketaysoen@gmail.com


HSR International Realtors Pte Ltd
Estate Agent Reg No: L3002226G Read More